Heineken throws Q1 surprise but stage set for LatAm battle – analysis
On the face of it, Heineken delivered a disappointing set of first-quarter results this week. In its major market, Europe, beer volumes dropped by 10% as on-premise performance cratered because of the coronavirus lockdown. In the UK, for example, on-premise volumes (and presumably sales, although Heineken doesn't disclose them in Q1 and Q3) dropped to near-zero.